Highlighted links for September 14, 2023

Below are links from our NewsBase to other noteworthy reports published in the last 24 hours from and about China.

BUSINESS AND TECHNOLOGY:

Banking
China’s central bank set to boost liquidity but keep policy rate steady / Reuters
“China’s central bank is expected to boost liquidity while keeping the borrowing cost steady when rolling over its medium-term policy loans on Friday, a Reuters survey showed, after a string of data showed some signs of economic stabilization.”
China cuts bank reserve ratio again to aid recovery / Nikkei Asia (paywall)
“China’s central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to boost liquidity and support the country’s economic recovery.”
China cuts bank reserve requirements to aid fiscal stimulus / Bloomberg (paywall)
China frees banks to lend more in latest attempt to spur economy / NYT (paywall)
“The People’s Bank of China will allow commercial banks to hold less money in reserve, but businesses and households have been cautious about borrowing.”

Improving China’s scientific literacy
China’s hi-tech ambitions under threat with scientific literacy inadequate to support innovation-driven economy / SCMP (paywall)
“Beijing has vowed to rely on a so-called talent dividend to drive innovation and high-quality development, but only 13 percent are viewed as scientifically literate.”

AI regulations
What the U.S. can learn from China about regulating AI / Foreign Policy
“Over the past two years, China has enacted some of the world’s earliest and most sophisticated rules for AI.”

Europe’s probe into Chinese EVs
China denounces Europe probe of EVs as ‘naked protectionist’ act / Reuters
“A European Commission investigation into Chinese electric vehicles believed to have benefited from state subsidies will have a ‘negative’ impact on economic and trade ties, China’s commerce ministry warned on Thursday.”
China extends anti-subsidy duties on EU potato starch imports for 5 years, hits back at EV probe / SCMP (paywall)
“China confirmed on Thursday that it would continue to impose anti-subsidy duties on potato starch imports from the European Union for the next five years, hours after Beijing’s latest protest against the bloc’s planned probe into China’s soaring exports of electric vehicles.”
China attacks EU’s ‘naked protectionist act’ on electric cars / FT (paywall)
“Beijing has attacked the EU’s anti-subsidies investigation into China’s electric car industry as a ‘naked protectionist act’ and warned that it will have a negative impact on relations in its first official comments on the probe.”
Beijing blasts EU for protectionism while China EV stocks slide / Nikkei Asia (paywall)
Chinese NEV industry hits back at EU anti-subsidy probe / Caixin (paywall)
What is driving Chinese EV exports and their price competitiveness? / Reuters
“The European Commission began investigating on Wednesday whether to set punitive tariffs to protect its producers from imports of cheaper Chinese electric vehicles that it says benefit from state subsidies.”

Real estate and property development
Moody’s cuts China property sector’s outlook to negative / Reuters
“Moody’s on Thursday cut China’s crisis-hit property sector’s outlook to negative from stable, citing economic growth challenges the ratings agency said would dampen sales despite government support.”
Chinese banks shun Beijing’s flagship property bailout fund / FT (paywall)
“A flagship Beijing lending programme to revive the country’s debt-stricken property market has done barely any business almost a year after its launch, officials said, highlighting the difficulty for policymakers seeking to boost confidence in the world’s second-largest economy.”

Chinese smartphone alliance
Chinese smartphone giants Huawei and Xiaomi reach global patent cross-licensing deal, fuelling both firms’ push into premium handset segment / SCMP (paywall)
“Huawei Technologies and Xiaomi Corp, two of China’s largest smartphone vendors, have set aside their intellectual property (IP) dispute to forge a global patent cross-licensing deal that covers multiple communications technologies including 5G, which could help bolster the expansion initiatives of both companies.”

SCIENCE, HEALTH, AND ENVIRONMENT:

Healthcare
In China, a completely different approach to lowering healthcare costs / WSJ (paywall)
“Close to 200 hospital heads have been detained in a monthslong anti corruption campaign aimed at helping Xi Jinping’s ‘common prosperity’ drive.”

Heavy rain returns to Hong Kong
Hong Kong shuts schools as it issues heavy rain warning / Reuters
“Hong Kong closed schools on Thursday after authorities issued the second-highest rain signal and warned of extensive flooding, just days after the Asian financial hub was drenched by the heaviest rain since records began 140 years ago.”

Clean energy
China ups pressure on lax energy-saving provinces, Xi tells Rust Belt to quicken clean energy growth / Caixin (paywall)
“The National Development and Reform Commission (NDRC), China’s top economic planner, has summoned officials of four provinces for talks over their slow progress in hitting their energy-saving targets for the 14th Five-Year Plan (FYP) period from 2021 to 2025, the NDRC said in a statement on Sept. 9.”

Food security
Climate change could drown China’s food security / Foreign Policy (paywall)
“China has a fifth of the world’s population but just 9 percent of its arable land—and that bit is increasingly underwater.”

POLITICS AND FOREIGN AFFAIRS:

The People’s Liberation Army
China prefers guns to butter / Foreign Policy (paywall)
“As the economy declines, the CCP leans heavily on the army.”

Taiwan military affairs
China conducts major military exercises in Western Pacific / NYT (paywall)
“The drills, which appear to simulate a blockade of Taiwan, are believed to be in response to recent military drills between the United States and allies.”
Taiwan reports 40 Chinese military aircraft in its air defense zone / Reuters
“Taiwan’s defense ministry said on Thursday that in the past 24 hours it had detected 40 Chinese air force aircraft entering the island’s air defense zone, mostly flying to the south of Taiwan and into the Bashi Channel.”
PLA’s latest air and sea drills near Taiwan could signal surprise attack strategy, analysts say / SCMP (paywall)
“The People’s Liberation Army has mobilized aircraft from different theater commands to take part in an ‘island encirclement patrol’ near Taiwan, which experts said could signal a new strategy to prepare for regional military conflicts.”
Taiwan seeks U.S., Japan, Philippine support to deter Chinese navy / Nikkei Asia (paywall)
“A security official in charge of Taiwan’s submarine program has urged the U.S., Japan and the Philippines to set up a joint reporting mechanism with Taiwan to counter China’s growing naval threat.”
How Taiwan is learning from Ukraine / Foreign Policy (paywall)
“Taiwan’s citizens live amid a constant, growing threat. The island has governed itself independently since 1949, but Beijing claims Taiwan as part of its territory—and has vowed to one day take control. As China has expanded its military and economy over the last few decades, its designs on Taiwan have felt ever more real.”

ASEAN
China’s Premier Li Qiang will attend China-ASEAN expo / Reuters
“China’s Premier Lǐ Qiáng 李强 will attend the China-ASEAN expo in Nanning City, Guangxi on Sept. 17, the foreign ministry said on Thursday.”

Taiwan’s election
Foxconn founder Gou picks Netflix hit show actress as presidential running mate / Reuters
“Terry Gou (郭台銘 Guō Táimíng), the founder of major Apple supplier Foxconn, on Thursday said his running mate in Taiwan’s presidential election next year would be Tammy Lai (赖佩霞 Lài Pèixiá), an actress who starred in a high-profile Netflix drama.”
Taiwan election: Foxconn founder Terry Gou taps star-powered running mate to boost sluggish presidential bid / SCMP (paywall)
“Taiwanese billionaire Terry Gou has picked a veteran entertainer as his running mate in the January presidential election, as the founder of Apple supplier Foxconn flounders in public opinion polls.”
Foxconn founder taps Netflix star as running mate in Taiwan vote / Bloomberg (paywall)

Taiwan is not impressed with China’s plan nor Elon Musk
Taiwan rejects China’s integrated development plan as politicized cash grab / Reuters
“Taiwan’s government on Thursday rejected a plan by China to boost economic integration as a cash grab to boost the country’s ‘deteriorating’ business environment and futile bid to win Taiwanese hearts and minds to support the Communist Party.”
Beijing says it now has capacity to build Taiwan high-speed rail link from Chinese mainland / SCMP (paywall)
“Beijing’s state planner has said it is ready to build a high-speed railway to Taiwan as part of its latest proposals for ‘cross-strait integrated development.’”
Taiwan blasts Elon Musk over latest China comments / Reuters
“Taiwan is ‘not for sale,’ the island’s foreign minister said in a stern rebuke to Elon Musk who asserted Taiwan was an integral part of China, as the billionaire again waded into the thorny issue of relations between Beijing and Taipei.”
Elon Musk on Twitter speaking on Taiwan / Twitter

U.S.-China tensions
Biden administration detects red flags in Xiconomics / Nikkei Asia (paywall)
“U.S. President Joe Biden this past weekend made comments on the Chinese economy that raised eyebrows for the definitive tone.”

Singapore
Singapore reaping rising investment from India, China, Southeast Asia – official / Reuters
“Singapore has seen increasing investments from India, China, and Southeast Asia in recent years even as the U.S. remains its largest investor, its investment chief said on Thursday.”

Philippines
Philippines keeps eye on Chinese workers over potential ‘covert activities’ amid South China Sea tensions / SCMP (paywall)
“The Philippines has expressed alarm over Chinese workers in the country engaging in potential ‘covert economic and information activities’ to sway public opinion as a maritime row over the contested South China Sea rumbles on.”

Cambodia
Cambodia’s new Prime Minister Hun Manet visiting close ally China on his first official trip abroad / AP
“Cambodian Prime Minister Hun Manet arrived in Beijing on Thursday on his first official trip abroad since taking office last month. The visit is a demonstration of his country’s warm relations with China, its closest political and economic ally.”
Cambodian PM Hun Manet heads to China in early diplomatic push / Nikkei Asia (paywall)

Russia
The China-Russia axis takes shape / Foreign Policy (paywall)
“The bond has been decades in the making, but Russia’s war in Ukraine has tightened their embrace.”

Middle East
China-Middle East aim to lift trade to new heights by 2030 amid strained ties with Western partners / SCMP (paywall)
“Officials from China and the Arab world said on Thursday that they expect a steady – and possibly dramatic – increase in trade over the coming years, as the Middle East develops and Beijing gets more involved there amid tense relations with its Western trading partners.”

SOCIETY AND CULTURE:

China’s pricey international education industry
Putting a price on an international education / Sixth Tone
“How much would you spend to keep your child out of China’s ultra-competitive educational system?”

Moutai’s newest venture
China’s Moutai launches boozy chocolates with Dove in diversification drive / Reuters
“Chinese luxury liquor-maker Kweichow Moutai is again looking to diversify from its fiery baijiu spirit core business to attract a new generation of consumers via a sweet collaboration with Mars, Inc.-owned Dove.”

Swiping for jobs
Swipe right to hire me: How Tinder became China’s hottest networking app / Sixth Tone
“Young Chinese are increasingly using the dating app to hunt for potential job openings amid soaring graduate unemployment. But the trend is sparking concern among the platform’s users — and inside Tinder itself.”

Job scams
After year of hell, scholar warns Chinese about Myanmar job scams / Sixth Tone
“After returning to China, Zhang, a researcher at the Chinese Academy of Sciences, is speaking out about his captivity in Myanmar. He hopes to highlight the growing threat and alert others about the pitfalls.”

One man’s fake charity endeavors
Hebei: Man held for defrauding millions meant for sick children / Sixth Tone
“The man is allegedly linked to a major children’s charity in China, and lured donors by promising high returns before absconding with the funds.”